Category: Economics & Investing

B.B. pointed me to this, over at Zero Hedge: Retirement Fund Plunder Update: $206 Billion So Far, $62 Billion Left 30 Reasons To Get Out Of Real Estate and Into REAL Assets. (Thanks to Chris D. for the link.) Reader Jay H. kindly sent this link: Gold is best debt-crises defense — just not yet Naughty, Tim! He didn’t stick to the “Continuing Recovery” party line: Geithner says hard times to continue for many Sue C. forwarded this: Dollar likely lower without debt limit progress John R. sent us several great links: Several Inconvenient Truths About the Debt Ceiling and …

Vrenellis, anyone? Swiss Parliament to Discuss a New Gold Franc. US Taxpayers Just Paid $780 Million to Fund the Latest Greece Bailout Tranche. [JWR Adds: For some perspective, do you remember the uproar the $1.5 billion 1979 Chrysler bailout caused? And that was a loan, not a gift.] ‘The Greeks Would Be Well Advised to Exit the Euro Zone’. (Thanks to J.B.G. for the link.) Yishai flagged this, over at the Jammie Wearing Fool blog: Great News: Friday’s Anemic Jobs Number Are Likely Bogus Items from The Economatrix: Oil & Gasoline Prices on the Rise Again Graph:  What Recovery? US …

Michael Z. Williamson (SurvivalBlog’s Editor at Large) sent this: No new $10s, $100s being printed instead Brzezinski: Middle Class Unrest To Hit U.S. (Thanks to S.T. on Philly for the link.) Dennis C. sent us this: World Food Prices Climb on Sugar, Dairy Costs As Plastic Reigns, the Treasury Slows Its Printing Presses Top 10 Most Valuable U.S. Coins Found in Pocket Change Items from The Economatrix: Government Eases Foreclosure Rules For Unemployed Retailers Post Strong June Sales Retail Sales and Jobs Reports Send Stocks Higher Job Outlook Rises as Reports Suggest More Hiring

Loyal contributor F.G. sent this: U.S. banks are now closing faster than they are opening Brett Arends: The next, worse financial crisis Commentary: Ten reasons we are doomed to repeat 2008. (Thanks to John R. for the link.) More FDIC Friday Follies: Three More Failed Banks: Signature Bank and Colorado Capital Bank (both in Colorado) and First Chicago Bank and Trust (Illinois) Three Tea Party-Backed Senators Bet Economic Recovery on Gold Scott E. suggested this from Mines magazine: Sourcing Rare Earths and Critical Minerals Items from The Economatrix: Stocks Sink After Dismal June Jobs Report Silver Bullion Eagle Coins Reach …

Scooby Doo say: “Rutt-row!”: Moody’s Downgrades Portugal to Ba2 From Baa1, Outlook Negative John T. suggested this by Peter Schiff: The rise of the barter economy Tyler Durden reports at Zero Hedge: Planned Job Cuts Increase by 12% in June, Second Sequential Increase. Here is a quote: “Forget new job formation. According to the just released Challenger jobs report, job destruction is starting to be an issue again, after the June report disclosed that “the number of planned job cuts announced by U.S.-based employers increased by 4,297 or 11.6 percent to 41,432 in June.” Europe takes another step closer to …

Courtesy of David N.: Lessons of Argentina crisis ignored in handling of Greece The latest from The Daily Bell: So Many Lost Decades – Why? Items from The Economatrix: Be sure to watch this: Economic Armageddon & You Factories Busier In June After Spring Slump Enough of this Greek Farce, Everyone Knows Default is Coming The Great Misdiagnosis Selling Gold Teeth in Greece to Make Ends Meet Jim Rogers:  Boost Food Production At Any Cost Or “No Food At Any Price”

Lyn suggested this: Our next Monetary System and the End of Freedom B.D.W. sent this from Seeking Alpha: Inflation Indexed Bonds and Annuities Versus Gold, Silver and Platinum Items from The Economatrix: The Fifth Option:  Is This How Governments Will Fix Their Debt Problems? Greenspan:  Fed’s Massive Stimulus Had Little Impact Stores Find Success By Focusing On The Hunt Companies Ordered More Factory Goods in May

A New Investment Strategy: Preparing for End Times Huge rare earth deposits found in Pacific: Japan experts. (A tip of the hat to to Mary M. for the link.) John R. recommended a piece over at The Daily Bell: Where Will You Go When the Sovereign Debt Volcano Blows? JBG sent this: Rating Agency Issues Greek Rescue Plan Warning Items from The Economatrix: Ron Paul:  US Should Declare Bankruptcy On-line Retailers Strike Back at Internet Tax Levy S&P to Deeply Cut U.S. Ratings if Debt Payment Missed Gas is 24 Cents Cheaper Than Labor Day The “Economic Recovery” Turns 2.  …

Reader Burt J. sent a link to a list on the CIA web site, showing positive and negative foreign trade balances. Look who is at the very bottom of the list with the largest trade deficit, by a wide margin. This can’t go on much longer without a currency collapse. Notutopia flagged an article that demonizes perfectly legal incorporation: Special Report: A little house of secrets on the Great Plains. (To some statists, financial privacy and economic freedom are foreign concepts.) Yishai was the first of several readers to send this: Inside the Fed’s Vault: $1 Billion Worth of Unused …

News from Oz: RBA board member warns of Europe meltdown. (Thanks from Tom in Buffalo for the link.) C.D.V. sent the latest news of fiscal suicide: Despite Deadline Uncertainty, U.S. Faces Bad Choices if Debt Limit Not Raised. Morici argues there is one way for the government to keep paying its bills for a year or longer: “The Treasury can print money and the Federal Reserve can buy back that cash when it goes into circulation with its portfolio of bonds, and keep going quite a bit that way.” Items from The Economatrix: Greece Passes Steep Cuts as Riots Seize …

Michael Z. Williamson (SurvivalBlog’s Editor at Large) recommend this: The number that’s killing the economy Stephen M. highlighted this one: General Mills sees 2012 profit hit by food costs. Here is a quote: “The maker of Cheerios cereal and Progresso soups said on Wednesday that it expects costs to rise 10 percent to 11 percent in the 2012 fiscal year, which began May 30.” Also from Stephen: Austerity Riots – A Glimpse of America’s Future? Items from The Economatrix: Voters Give Obama Lowest Rating Yet on Economy Home Prices in 20 U.S. Cities Fall By Most in 17 Months Uptick …

Steven M. suggested: Three financial funnel clouds ahead Commentary: Fighting ‘F5’ financial disasters with ETFs United States of Denial (James West) John R. suggested a piece by Arnold Bock: Get Ready to be Financially Conscripted Katie Benner: China’s Debt Bomb From The Daily Bell: Greece: Frazzled Eurocrats Play for Time Items from The Economatrix: The Five Biggest Threats to US Economy Celente Predicts Gold Standard Won’t Save US Economy Consumers’ Confidence Down in June on Job Worries